I ran across this little hummer, while websearching for today's biggest gainers. The sucker was up 1/2-a-buck on very small volume.
Here's the news:
Randers Killam Group Awarded $7 Million Contract Extension From NYC Department of Transportation
PR Newswire - February 02, 1999 11:16
MUSKEGON, Mich., Feb. 2 /PRNewswire/ -- The Randers Killam Group Inc. (Amex: RGI) announced today that its transportation subsidiary, BAC Killam, has received a $7 million contract extension from the City of New York Department of Transportation (NYCDOT) Bureau of Bridges for resident engineering and inspection services for the Queensboro Bridge. BAC Killam has been providing these services since 1982 for the reconstruction of the Queensboro Bridge.
With this extension, BAC Killam will have provided more than $22 million in inspection services during the latest major rehabilitation contract for this 96-year-old cantilever bridge, which spans the East River with 10 lanes of traffic on upper, lower, and outer decks. The $400 million construction project has included total replacement of the all roadway decks, as well as the rehabilitation of the main bridge and replacement of ConEdison power lines across the span without interrupting the power supply.
"Construction inspection services are a significant part of the full engineering services we offer and we are very proud to receive this extension to our fourth consecutive inspection contract on this project," said Emil C. Herkert, president and chief executive officer of The Randers Killam Group. "The extension demonstrates the recognition by our client that our performance continues to be of the highest quality in the industry."
The Randers Killam Group Inc. provides comprehensive engineering and outsourcing services in such areas as water and wastewater treatment, highway and bridge projects, process engineering, construction management, and operational services. Clients include municipalities, government agencies, and companies in the manufacturing, pharmaceutical, and chemical-processing industries. The Randers Killam Group is a public subsidiary of Thermo TerraTech Inc., a Thermo Electron company.
The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward- looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading "Forward-looking Statements" in Exhibit 13 to the company's annual report on Form 10-K for the fiscal year ended April 4, 1998. These include risks and uncertainties relating to: dependence of the company's business on sales to government entities, effects of intense competition, dependence of the company's business on environmental regulation, potential environmental and regulatory liability, potential professional liability, the effect of seasonal influences on the company's performance, the company's acquisition strategy, and the potential impact of year 2000 on processing date-sensitive information.
SOURCE Thermo Electron Corporation
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